economy

Jobless Claims Rise by Largest Amount Since Early February

October 18, 2007 - 8:16am
By The Associated Press

WASHINGTON (AP) — The number of newly laid off workers filing claims for unemployment benefits shot up by the largest amount since early February, a far bigger increase than had been expected.

The Labor Department reported Thursday that applications for jobless benefits hit 337,000 last week, an increase of 28,000 from the previous week. That was the biggest one-week surge since jobless claims jumped 42,000 the week of Feb. 10.

The increase was four times larger than the gain of 6,000 that economists had been expecting and could be a sign that the labor market is starting to weaken under the impact of a severe downturn in housing and the credit crisis that jolted financial markets in August.

Camping Out: Economy Renders Student Homeless

September 8, 2009 - 11:00pm
By Sam Cross

Zach Biegun ’11 is not your typical Cornell student. He does not really like to drink or go out. He is 24 years old. He postponed college for three and a half years to pursue his passion in ballet. He is the 12th person in his family to attend Cornell: His sister majored in anthropology, his brother in mechanical engineering, his mother in art history and his grandfather in animal food science. He works two jobs, as a yoga instructor in Helen Newman and as an Emergency Medical Technician in Boston on weekends. Oh, and he’s homeless.

A Smoking Gun to Save the Endowment

August 31, 2009 - 11:00pm
By Matthew Ricchiazzi

Cornell, as a land grant university, has a responsibility not only to pursue knowledge but also to apply that research to affect positive change in the world. Situated in upstate New York, the University has an even deeper responsibility: to help a region that has long suffered from a 50-year population decline and decades of hemorrhaging job losses to rebuild its economy congruent with the emerging industries that will shape our global marketplace.